How It Works
Every business day, M&T will post all deposits, checks and other debits and credits to your organization's commercial checking account. After the ending balance is calculated, any available funds that exist in excess of a predetermined amount (target balance) will be automatically transferred to your commercial line of credit to pay down balances. Conversely, when funds are needed to meet daily requirements, a line advance is automatically triggered from your commercial line of credit.
Automated Loan Sweep service can be used in conjunction with Automated Investment Sweep and/or Zero Balance Account (ZBA) services.
Who Can Use It
Organizations with an M&T Commercial Checking account and a commercial line of credit.
Benefits to Your Organization
- Maximize funds availability
- Minimize interest payments
- Automatic advances/pay downs
How to Enroll
To find out more, or to set up Automated Loan Sweep service, please contact your dedicated M&T Relationship Manager or the Commercial Service Team at 1-800-724-2240, Monday–Friday 8am–6pm ET.DIS-222*-DIS|DIS-324*-DIS